. >> if workers at the bottom get the increase in the minimum wage that president obama proposed in his state of the union message, they will still be faring less well than their counterparts did 50 years ago. >> that's right. >> what does that say to you? >> the peak for the minimum wage in terms of its real purchasing power was 1968. it's been basically declining with a couple of ups and downs ever since. so, that if you adjust for the current price, the minimum wage was about $10.50 roughly, back in 1968 in terms of what it could buy. and it's $7.25 today in terms of what it can buy. so, you've taken the folks at the bottom, the people who work hard, full-time jobs, and you've made their economic condition worse over a 50-year period, while wealth has accumulated at the top. what kind of a society does this? and then the arguments have come out, which are in my profession, a major staple for many careers, are arguments that, "gee, if you raise the minimum wage, a few people who might've otherwise gotten a job won't get it because the employer doesn't want to pay the higher wage." wel